Deduction in respect of commission earned by lic agent
This query is : Resolved
08 February 2012
HI ALL.......
INDIVIDUAL HAVE INCOME FROM SALARY FROM PRIVATE LIMITED COMPANY & COMMISSION FROM LIC RS 81000/-. HIS COMMISSION IS ABOVE 60000/- THATS WHY HE CANNOT CLAIM ADHOC DEDUCTION. HE IS NOT MAINTAINED BOOKS REGARDING EXPENDITURE. SO NOW CAN HE TREAT IT AS PART TIME BUSINESS AND FILED HIS RETURN U/S 44AD?
PLEASE HELP ITS URGENT?
INDIVIDUAL HAVE INCOME FROM SALARY FROM PRIVATE LIMITED COMPANY & COMMISSION FROM LIC RS 81000/-. HIS COMMISSION IS ABOVE 60000/- THATS WHY HE CANNOT CLAIM ADHOC DEDUCTION. HE IS NOT MAINTAINED BOOKS REGARDING EXPENDITURE. SO NOW CAN HE TREAT IT AS PART TIME BUSINESS AND FILED HIS RETURN U/S 44AD?
PLEASE HELP ITS URGENT?
09 February 2012
HELOO ALL
PLEASE HELP ME??????
PLEASE HELP ME??????
12 February 2012
YES, HE CAN FILE HIS RETURN U/S 44AD.
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